Taxation Is a Powerful Tool

Taxation is a powerful tool. Over the past 50 years, U.S. federal and state tax policies have redistributed $79 trillion from workers to the richest 1%.That’s $79 trillion of our money being taken from us and given to people who have more than enough.Rhode Island’s regressive tax system is an example of how it works. In our state, the lowest 20% of earners pay 13% of their income in property, sales, and income tax, and the top 1% only pay 9%.Which means that the people making the least can never get ahead and the people making the most have more money they can invest and use to grow their wealth.During the last half century, tax cuts have also depleted federal and state budgets, taking money away from public services and infrastructure—cutting service and leaving our roads, bridges, sewers, and electrical grid to decay and crumble.At this point, so much harm has been done that there’s no easy fix and the only true remedy is to start fresh with a new tax policy that has a singular focus on reversing and repairing the damage.Music: Skating Squirrels by Shane Ivers - https://www.silvermansound.com